Residential mortgage commitments the lowest in a decade

Last year saw the lowest number of residential mortgage commitments in almost a decade, according to the latest data released by The Central Bank of The Bahamas. There were 773 mortgage commitments in 2020 - 641 single dwelling and 132 duplex and row - valued at just more than $150 million, according to the bank's ...
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Banks will not foreclose on mortgages as delinquencies rise, pledges banker

With tens of thousands of Bahamians still unemployed and unable to maintain monthly financial obligations, President of the Clearing Banks Association Kenrick Brathwaite said banks will exercise extreme forbearance, vowing that most delinquent mortgages will not be foreclosed. During the month of November, mortgage delinquencies expanded by $37.4 million (8.5 percent). Brathwaite said while he ......

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Fewer residential mortgage commitments as consumers feel the pinch of COVID-19

Fewer and fewer Bahamians have been obtaining residential mortgages, according to the latest data provided by The Central Bank of The Bahamas' Quarterly Statistical Digest, again reflecting the impact of the COVID-19 pandemic on consumer spending patterns. Data in the report shows that while the year started strong, with 253 mortgage commitments during the first ...
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Bahamas Mortgage Corporation Gets New Home

The Bahamas Mortgage Corporation has reached a major milestone with the opening of its newly renovated building on East Hill Street...

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BMC chair: Mortgage loans approval challenging as clients in debt

The Bahamas Mortgage Corporation (BMC) remains challenged to approve mortgage loans as it finds its clients to be heavily debt burdened, BMC Chairman Patrick Ward said yesterday, adding that in the absence of a formal credit agency, BMC does its best to ascertain the actual debt burden of people interested in acquiring money for a home. Ward, who was speaking ...
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Gibson, Rolle spar over mortgage corp.

Though former Minister of Housing Shane Gibson continues to blame the Ingraham adminstration for the nearly failing state of the Bahamas Mortgage Corporation (BMC), Parliamentary Secretary in the Ministry of Housing Brensil Rolle yesterday retorted that Gibson still refuses to accept responsibility for what occurred at the ministry and the BMC when he had oversight of the entities.
BMC Chairman Dr...

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Instant Mortgage Decisions

After many months of intense technical work and investing significant resources into our online platform, XM Loans today announced the launch of the newest version of its internet-based mortgage qualifier.

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Mortgage issuances drop 15.2 to 53m

By ALISON LOWE

Business Reporter

alowe@tribunemedia.net

Activity in the construction sector remained "constrained" in the 2010 third quarter due to a lack of demand for building construction from the private sector and foreign investors, with mortgage disbursements down 15.2 per cent.

In the Quarterly Economic Review for July to September 2010, the Central Bank of the Bahamas noted that there...

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Mortgage Seminar Series

Saturday 27th June 2015  11:00 AM

There's nothing like the home you own.

WHEN: Saturday, June 27, 2015

WHERE: Exuma Room British Colonial Hilton

TIME: 11am-1pm

Mortgage Seminar Series

Saturday 25th July 2015  11:00 AM

There's nothing like the home you own.

WHEN: Saturday, July 25, 2015

WHERE: Exuma Room British Colonial Hilton

TIME: 11am-1pm